Baidu, Inc. (NASDAQ:BIDU) Stock Holdings Reduced by Highland Capital Management LLC

Highland Capital Management LLC cut its position in shares of Baidu, Inc. (NASDAQ:BIDU) by 2.2% in the fourth quarter, Holdings Channel reports. The firm owned 5,875 shares of the information services provider’s stock after selling 130 shares during the period. Highland Capital Management LLC’s holdings in Baidu were worth $495,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BIDU. Primecap Management Co. CA raised its position in Baidu by 1.5% during the third quarter. Primecap Management Co. CA now owns 12,123,856 shares of the information services provider’s stock valued at $1,276,521,000 after acquiring an additional 176,150 shares in the last quarter. Sanders Capital LLC raised its holdings in shares of Baidu by 0.7% during the 3rd quarter. Sanders Capital LLC now owns 2,605,728 shares of the information services provider’s stock valued at $274,357,000 after purchasing an additional 18,334 shares in the last quarter. CoreView Capital Management Ltd lifted its stake in shares of Baidu by 15.6% in the 3rd quarter. CoreView Capital Management Ltd now owns 1,236,783 shares of the information services provider’s stock valued at $130,221,000 after purchasing an additional 166,618 shares during the last quarter. International Assets Investment Management LLC boosted its holdings in Baidu by 12,065.6% in the third quarter. International Assets Investment Management LLC now owns 1,070,694 shares of the information services provider’s stock worth $1,127,330,000 after purchasing an additional 1,061,893 shares in the last quarter. Finally, Maple Rock Capital Partners Inc. acquired a new position in Baidu during the third quarter worth $42,748,000.

Baidu Price Performance

Shares of NASDAQ:BIDU opened at $90.60 on Friday. The firm has a market capitalization of $31.77 billion, a PE ratio of 11.09, a PEG ratio of 2.05 and a beta of 0.46. The company has a current ratio of 2.19, a quick ratio of 2.19 and a debt-to-equity ratio of 0.18. Baidu, Inc. has a 1-year low of $77.19 and a 1-year high of $116.25. The business’s 50 day moving average is $85.45 and its 200-day moving average is $88.64.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. China Renaissance downgraded Baidu from a “buy” rating to a “hold” rating and set a $86.00 price target for the company. in a research note on Monday, November 25th. StockNews.com upgraded Baidu from a “hold” rating to a “buy” rating in a report on Friday, December 27th. Citigroup reduced their price objective on shares of Baidu from $142.00 to $141.00 and set a “buy” rating for the company in a research note on Friday, November 29th. Benchmark reiterated a “buy” rating and issued a $130.00 target price on shares of Baidu in a research note on Friday, January 24th. Finally, Barclays lowered shares of Baidu from an “overweight” rating to an “equal weight” rating in a research report on Friday, November 22nd. Ten analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Baidu presently has a consensus rating of “Hold” and an average target price of $113.75.

Baidu Company Profile

Baidu, Inc engages in the provision of internet search services in China. It operates through two segments: Baidu Core and iQIYI. The company offers Baidu App to access search, feed, and other services using mobile devices; Baidu Search to access its search and other services; Baidu Feed that provides users with personalized timeline based on their demographics and interests; Baidu Health that helps users to find the doctor and hospital for healthcare needs; and Haokan, a short video app.